Industrial construction in Monterrey does not stop and by the end of August 2023 it will exceed one million 970 thousand square meters. This strong growth slope that began at the end of 2021 is what leads this important northern market to concentrate 32% of the buildings under construction that advance in the country.

Between the months of July and August alone, more than 345 thousand square meters of industrial construction began, a figure that more than doubles what began during the same months of 2022.

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If we review the details of the industrial buildings that were being built by the end of the second quarter of 2023, about 65% of the projects correspond to the custom-made or BTS modality, while the remaining percentage is represented in speculative projects.

Of the total that was under construction in mid-2023, only 22% was available, that is, about 372 thousand square meters, a sign of the strong demand that is concentrated there.

The Salinas Victoria and Apodaca corridors group the highest percentage of constructions with 28% and 26% of the total market. Santa Catarina, which is the corridor that receives the investment from Tesla, concentrates 17% of the new industrial buildings with 338 thousand square meters that will soon be integrated into the industrial inventory in Monterrey.

New constructions have allowed a slight rebound in industrial vacancy, which closes at 1.2% at the end of August 2023.

The concentration and competition that takes place in this market has raised the supply of industrial warehouses to the levels of the American market. High heights, large spaces free of columns, maneuver yards, platforms equipped with leveling ramps and availability of office spaces are some of the elements that allow the spaces to be highly efficient and meet the requirements demanded by the new environmental regulations.

Of interest: Querétaro and Guanajuato report the highest industrial construction activity in the Bajío

The certifications of these buildings within industrial parks are an important attraction for multinational firms that arrive or expand in the country and thereby guarantee compliance with national and international standards in terms of sustainability and ESG.

In the remainder of the year, it is expected that other new projects will continue to begin since of the works that are currently being carried out, 80% will be completed in the remainder of 2023, leaving the remaining 20% to be completed in the first quarters of 2024.